Colombia's new president De La Espriera to seek debt refinance and freeze public spending

President‑elect Abelardo De La Espriera announced that his first priority will be to refinance Colombia's external public debt. He sent his designated finance minister, Miguel Gómez Martínez, to Washington to meet international banks and multilateral lenders to negotiate better terms and restore investor confidence.

Gómez confirmed that public spending will be frozen from 7 August, the day the new administration takes office, stating, "Vamos a congelar el gasto público el 7 de agosto." He also proposed cutting the number of ministries from 19 to a maximum of 13, arguing that the current structure is financially unsustainable and that decentralisation to regional governments is needed. The minister highlighted plans to re‑engage with the IMF, World Bank and CAF, and to eliminate duplicated agencies.

These measures aim to improve fiscal order, reduce the fiscal deficit and strengthen Colombia's economic outlook under the incoming government.